Kuwait to finalize USD5bn worth loan

17 Oct 2016

(MENAFN) Kuwait National Petroleum Co. predicts to finish a loan of USD5bn to finance its Clean Fuels project by the end of the first quarter of 2017.

Accordingly, the refiner aimed to complete the fundraising, one of the world largest-ever loans backed by export credit agencies.

Additionally, the loan is one of the main loan deals to expect in the region, which is going to be huge.

The firm obtained a first tranche of financing in April, USD4.0bn loan led by National Bank of Kuwait and Kuwait Finance House.

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